Super Micro Computer Stock Forecast
Weaker technical forecast for Super Micro Computer as stock downgraded to Sell Candidate.
(Updated on May 08, 2024)
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -8.18% during the next 3 months and, with a 90% probability hold a price between $635.68 and $1,032.09 at the end of this 3-month period.
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SMCI Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 15.27%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Super Micro Computer stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $895.21. On a fall, the stock will find some support from the short-term average at $802.09. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.
Support, Risk & Stop-loss for Super Micro Computer stock
Super Micro Computer finds support from accumulated volume at $803.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $43.39 between high and low, or 5.42%. For the last week, the stock has had daily average volatility of 5.49%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SMCI) For The Upcoming Trading Day Of Thursday 9th
For the upcoming trading day on Thursday, 9th we expect Super Micro Computer to open at $822.26, and during the day (based on 14 day Average True Range), to move between $751.05 and $894.23, which gives a possible trading interval of +/-$71.59 (+/-8.70%) up or down from last closing price. If Super Micro Computer takes out the full calculated possible swing range there will be an estimated 17.40% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $803.32 (2.35%) than the resistance at $880.55 (7.04%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Super Micro Computer stock A Buy?
Super Micro Computer holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.650 Sell Candidate Downgraded
Predicted Opening Price for Super Micro Computer of Thursday, May 9, 2024
Fair opening price May 9, 2024 | Current price |
---|---|
$822.26 ( 0.0458%) | $822.64 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMCI
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 865.65 | 5.23 % | |
R2 | 849.08 | 3.21 % | ||
R1 | 838.84 | 1.97 % | ||
Current price: | 822.64 | |||
Support | S1 | 805.69 | -2.06 % | |
S2 | 795.45 | -3.31 % | ||
S3 | 778.87 | -5.32 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 1,004.00 | 22.05 % | |
R2 | 975.52 | 18.58 % | ||
R1 | 880.55 | 7.04 % | ||
Current price | 822.64 | |||
Support | S1 | 803.32 | -2.35% | |
S2 | 787.57 | -4.26% | ||
S3 | 713.65 | -13.25% |
FAQ
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